MKT 407 Lecture Notes - Lecture 6: Conjoint Analysis, Regression Analysis
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Conjoint analysis: approach to finding out what components in a mixture do, through the measurement of the mixture. Systematically deconstruct any idea or message into its components and discover the unique contributions of each component. Full profile conjoint study- respondents evaluate a full set of elements together rather than different elements one at a time or as a paired comparison. After evaluation, date is analyzed by least squares regression. 5 steps to creating a conjoint study. Choose the elements of the study design: product developer must consider what questions need to be answered to select the specific elements to include in the design. Design the experiment: provides greater insight into the output results, since the performance of individual elements of the study can be revealed. Respondents don"t know that the elements are being systematically varied- they see overall product concept and react to it. Present the stimuli and acquire the data: computer technology calculate test concepts.